PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Vivek Systems Inc, Rochester Hills, MI

ALERT: There are 2 PPP loans for a total of $36,166 in our database for businesses with the name "Vivek Systems Inc" in Rochester Hills, MI. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Vivek Systems Inc
MI

Vivek Systems Inc

Entity: Corporation

Industry: Other Computer Related Services

Location: Rochester Hills, MI

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Vivek Systems Inc is a corporation located at 2163 Avon Industrial Dr in Rochester Hills, Michigan that received a Coronavirus-related PPP loan from the SBA of $16,166.00 in February, 2021.

$ PPP Loan Information
Loan #3983378403

Loan Size:

$16,166

Jobs Retained:

2

Loan Approved:

2021-02-05

Loan Status:

Paid in Full or Forgiven

Lender:

FC Marketplace, LLC (dba Funding Circle)

Vivek Systems Inc in Rochester Hills, MI received a Paycheck Protection Loan of $16,166 through FC Marketplace, LLC (dba Funding Circle), which was approved in February, 2021.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in November, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Vivek Systems Inc's 2019 payroll expenses are estimated to be at least $77,597.

Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $38,799 per employee1

Reported PPP Proceed Usage:

On the PPP application, Vivek Systems Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $16,163
  • Utilities: $1

Business Information - Vivek Systems Inc in Rochester Hills, MI

Vivek Systems Inc
2163 Avon Industrial Dr
Rochester Hills, MI 48309

Business Industry:
Other Computer Related Services
NAICS code 541519

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Oakland County, MI — SBA Office 0515 — Congressional District: MI-08

Similar Companies near Rochester Hills

In the Rochester Hills area, 7 businesses in the "Other Computer Related Services" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 2) and received an average PPP loan of $294,423 (compared to this company's $16,166).

Industry PPP Comparison Statistics

Nationwide, 25,059 businesses in the "Other Computer Related Services" industry received a total of $3.09B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.

PPP recipients in this industry report an average of 9 employees, 350% higher than Vivek Systems Inc's reported 2 employees, and received an average PPP loan of $123,350, 663% higher than this company's loan of $16,166.

SBA PPP loan data, payroll data, and salaries for Vivek Systems, Inc
MI

Vivek Systems, Inc

Entity: Corporation

Industry: All Other Publishers

Location: Rochester Hills, MI

Search All PPP Data

Vivek Systems, Inc is a corporation located at 2163 Avon Industrial Drive in Rochester Hills, Michigan that received a Coronavirus-related PPP loan from the SBA of $20,000.00 in April, 2020.

$ PPP Loan Information
Loan #6359447306

Loan Size:

$20,000

Jobs Retained:

2

Loan Approved:

2020-04-30

Loan Status:

Paid in Full or Forgiven

Lender:

Celtic Bank Corporation

Vivek Systems, Inc in Rochester Hills, MI received a Paycheck Protection Loan of $20,000 through Celtic Bank Corporation, which was approved in April, 2020.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in June, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Vivek Systems, Inc's 2019 payroll expenses are estimated to be at least $96,000.

Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $48,000 per employee1

Reported PPP Proceed Usage:

On the PPP application, Vivek Systems, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $15,000
  • Utilities: $2,500
  • Rent: $2,500

Business Information - Vivek Systems, Inc in Rochester Hills, MI

Vivek Systems, Inc
2163 Avon Industrial Drive
Rochester Hills, MI 48309

Business Industry:
All Other Publishers
NAICS code 511199

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Oakland County, MI — SBA Office 0515 — Congressional District: MI-08

Industry PPP Comparison Statistics

Nationwide, 5,543 businesses in the "All Other Publishers" industry received a total of $323.53M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.

PPP recipients in this industry report an average of 5 employees, 150% higher than Vivek Systems, Inc's reported 2 employees, and received an average PPP loan of $58,367, 192% higher than this company's loan of $20,000.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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Source: www.federalpay.org/paycheck-protection-program/vivek-systems-inc-rochester-hills-mi